Sysco (NYSE:SYY) Price Target Lowered to $77.00 at Morgan Stanley

Sysco (NYSE:SYY) had its target price trimmed by Morgan Stanley from $79.00 to $77.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Barclays reduced their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $85.21.

Sysco Trading Down 0.4 %

NYSE:SYY opened at $71.96 on Wednesday. Sysco has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock’s 50 day simple moving average is $76.43 and its 200-day simple moving average is $76.03. The firm has a market cap of $35.35 billion, a P/E ratio of 18.50, a PEG ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same period in the previous year, the company posted $0.89 EPS. Equities analysts anticipate that Sysco will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.83%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock valued at $6,485,050 over the last 90 days. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

Institutional investors have recently bought and sold shares of the business. National Pension Service lifted its stake in shares of Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares in the last quarter. New England Asset Management Inc. boosted its stake in shares of Sysco by 12.7% during the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after buying an additional 14,810 shares during the last quarter. Empowered Funds LLC boosted its stake in Sysco by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after acquiring an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after acquiring an additional 8,891 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.